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Jamaica vs Kenya

Crypto regulation comparison

← Back to map | Jamaica | Kenya
Jamaica

Jamaica

Kenya

Kenya

No Regulation
No Regulation

Jamaica has no specific cryptocurrency legislation. The Bank of Jamaica does not regulate or endorse crypto but has not banned it. Jamaica launched its own CBDC, JAM-DEX, in 2022 through the National Commercial Bank. Crypto exists in a legal gray area with no dedicated framework.

Kenya has no comprehensive cryptocurrency legislation, though it is one of Africa's leading crypto markets by adoption. The Central Bank has issued warnings but no formal ban. Kenya's 2023 Finance Act introduced a 3% Digital Asset Tax on income from digital asset transfers, signaling growing regulatory attention.

Tax Type Unclear
Tax Type Varies
Tax Rate N/A
Tax Rate 1.5-3% (proposed digital asset tax)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BOJ (Bank of Jamaica), FSC
Regulator CBK (Central Bank of Kenya), CMA (Capital Markets Authority)
Stablecoin Rules BOJ launched JAM-DEX CBDC; no private stablecoin regulation
Stablecoin Rules No specific stablecoin regulation
Key Points
  • No specific cryptocurrency legislation or regulatory framework
  • BOJ does not recognize crypto as legal tender but has not banned it
  • Jamaica launched the JAM-DEX CBDC in 2022
  • FSC Jamaica has not issued specific guidance on crypto asset regulation
  • Tax treatment of crypto gains is unclear due to lack of specific guidance
Key Points
  • No specific cryptocurrency legislation, but the 2023 Finance Act introduced a 3% Digital Asset Tax
  • CBK has issued multiple warnings about crypto but has not imposed a ban
  • CMA considering a framework for digital asset regulation
  • Kenya consistently ranks among the top countries globally for crypto adoption (P2P volume)
  • M-Pesa mobile money dominance shapes how Kenyans access crypto via P2P exchanges
Sources
Sources